Two units of Chow Tai Fook Group, which is owned by the family of billionaire Henry Cheng, reached the settlement, according to a statement from the Securities and Futures Commission. The regulator found that Chow Tai Fook Nominee Ltd and its concert parties failed to make a mandatory general offer at HK$3.60 a share in 2016, when their combined stake in the clothing retailer surpassed 30%. That settlement would mark the largest payout tied to breaches of the Hong Kong Takeover Code, which governs takeovers, mergers and share buy-backs in the city. Under the settlement agreement, Clear Prosper and Sino Wealth International Ltd, another Chow Tai Fook entity, have agreed to make cash payments to compensate independent shareholders who held Giordano shares at the time of the rule breaches. The SFC said the settlement is in the public interest and underscored the need to comply with takeover rules.

Source: The Edge Markets February 16, 2026 12:23 UTC